Greek Debt Committee Declared All Debt To The Troika "Illegal, Illegitimate,..."

[jaysabi]

I am pretty sure most of the greek population might not be aware of the existence of bitcoin.
For all those who say that greek should adopt bitcoin as their currency, nope. Keep dreaming.
Either way, bitcoin will always be an alternative of currency, not a replacement.

http://www.ibtimes.co.uk/bitcoin-value-surges-grexit-fears-make-cryptocurrencies-more-attractive-banks-1506582

This writer seems to think the recent rise in Bitcoin is because of Greek EU exit fears, as citizens flea what they predict to be an unstable banking system. I don't know that I agree with his assessment (he offers nothing to back his claim), but it's at least interesting to note.

[Wilikon]

If the greeks will do with bitcoin what they did with their own economy I do not see this as good news for our little community. Let the greeks create their own cryptocoin first then have anyone help out on a exchange.

They can call it the IOUcoin...

[Marbit]

http://www.zerohedge.com/news/2015-06-17/greek-debt-committee-just-declared-all-debt-illegal-illegitimate-and-odious

Sounds like a desperate attempt to come to a compromise or just simply buy some time?
Among other things, Only if Greece considered bitcoin as a possible alternative currency, how hugely it would affect the market would be something interesting to watch.

And I guess that 1st push towards acceptance is essential, other countries going through turbulence might just follow.
The impact would be interesting

[Wilikon]

http://www.zerohedge.com/news/2015-06-17/greek-debt-committee-just-declared-all-debt-illegal-illegitimate-and-odious

Sounds like a desperate attempt to come to a compromise or just simply buy some time?
Among other things, Only if Greece considered bitcoin as a possible alternative currency, how hugely it would affect the market would be something interesting to watch.

And I guess that 1st push towards acceptance is essential, other countries going through turbulence might just follow.
The impact would be interesting

Europe played the "the more the merrier" song when they accepted greece in their club. And look where this european union is now. The bitcoin community needs quality, not quantity. More serious people. Not more deadbeats. Serious poor people who can't have a bank account need a strong bitcoin network. A strong, serious virtual network and a strong, serious people network.

Greece never had a problem living way above their standard. Ever. Bitcoin is beyond greece's problem.

[jaysabi]

If the greeks will do with bitcoin what they did with their own economy I do not see this as good news for our little community. Let the greeks create their own cryptocoin first then have anyone help out on a exchange.

They can call it the IOUcoin...

Even if Greece adopted Bitcoin wholesale, they can't change anything about how the currency runs. I don't see how it could be bad, but a government such as Greece would never adopt a currency it can't control. That's the whole reason they want to leave the Euro; they can't control it. To the extent anyone in Greece is adopting Bitcoin, it's individuals who are doing so out of fear that whatever the government is going to do is going to screw them over and leave the money they currently have as worthless, which (ostensibly) is why you see them fleeing to global liquid assets, such as gold and Bitcoin (if you believe this article, and I'm not sure I do).

[Wilikon]

If the greeks will do with bitcoin what they did with their own economy I do not see this as good news for our little community. Let the greeks create their own cryptocoin first then have anyone help out on a exchange.

They can call it the IOUcoin...

Even if Greece adopted Bitcoin wholesale, they can't change anything about how the currency runs. I don't see how it could be bad, but a government such as Greece would never adopt a currency it can't control. That's the whole reason they want to leave the Euro; they can't control it. To the extent anyone in Greece is adopting Bitcoin, it's individuals who are doing so out of fear that whatever the government is going to do is going to screw them over and leave the money they currently have as worthless, which (ostensibly) is why you see them fleeing to global liquid assets, such as gold and Bitcoin (if you believe this article, and I'm not sure I do).

My positoin was on the greek government. The greeks should use bitcoin as anyone else should on the planet. But yes, it is about centralized control, as always.

[bryant.coleman]

This writer seems to think the recent rise in Bitcoin is because of Greek EU exit fears, as citizens flea what they predict to be an unstable banking system. I don't know that I agree with his assessment (he offers nothing to back his claim), but it's at least interesting to note.

If the Grexit fears are behind the recent spike of Bitcoin, then the volumes should be very high in Europe, or that should be the case at least in Greece. However, I have noticed that trade volumes in Europe (and Greece) are lower than the average right now. So in my opinion, something else is behing the recent rise of Bitcoin. May be the talks about legalization in Russia?